Bar the door to the bank–they are coming to clean out your account. No not the recent bank robbers, our government is the culprit. Del Tech is under financial pressure from state tuition giveaways. The board’s answer is to turn us into a little NJ with another property tax. The school districts who are under pressure from growth and mandatory kindergarten want property tax and huge building fee increases. Del DOT is so broke they make an Enron retiree look secure. What is the answer? Any thoughts? I will give you mine soon. As a hint to my thinking, I will say one phrase–underfunded mandate. http://www.delawareonline.com/apps/pbcs.dll/article?AID=2007702250332

McCain also gave hope to a group of Fair Tax Act supporters, who want to replace federal income and payroll taxes with a national sales tax. He said former Federal Reserve Board Chairman Alan Greenspan needs to head a commission to study a “drastic simplification of our tax code.”

He also blasted government spending, saying he believes it played a role in Democrats taking away the Republican majority during the November elections.

“The Republican base was alienated because of the spending spree we went on over the last six years,” McCain said, drawing applause.

Back in the 1960’s it was discovered that 21 millionaires had sufficient deductions to avoid the 70% income tax entirely. Oh no, how dare those rich people not be soaked. So the alternative minimum income tax was born and expanded under Bill Clinton. Now it affects 4 million Americans and could hit 23 million in two years because it is not indexed to inflation.

The AMT could by the backdoor undermine the
Bush tax cuts and become a ticking time bomb for our economy.

Wouldn’t it be better just to abolish this crazy income tax system? Check out the link to the FAIR Tax on this page.